Pebble put smart watches on the Map. But Apple's iWatch will change everything

Pebble announced its second smart watch last week, almost a year to the day after its first attempt hit wrists around the world, and way after the rest of the world thought Apple was going to make its first move.

18 months ago, San Fransico-based Pebble broke all records on the crowd funding website Kickstarter by becoming the fastest-ever funded project. Little more than a good idea with a prototype and a cool video, Pebble's initial funding goal was $100,000. They hit that target in less than two hours, and went on to raise almost $5m in 30 days. Within a month, the gang of geeks behind Pebble had become the darlings of the wearable technology world.

The Pebble watch itself links via Bluetooth to the wearer's smartphone, which will push alerts such as text messages and alarms to the watch's small e-paper screen. Depending on the apps installed on the phone, it can also display information such as local weather or current GPS coordinates.

Understandably, lots of other manufacturers joined in. Offerings from start-ups like Martian and Fitbit took off quickly, alongside established companies from multiple industries such as Casio, Nike and Samsung. The watches themselves are branded as fitness trackers, accessories for your mobile phone, or just watches that do a bit more than tell you the time and date.

But there is one thing they're not branded with yet – and that's an Apple logo. As expected, Apple and Google are odds on to launch a smart watch any moment now. Smart watches don't work without a phone in Bluetooth range, and Apple and Google's software runs more than 90% of them, so it makes sense.

Pundits suggest that Pebble's two-year head start means Apple is now too late. They wonder why Apple is so behind the curve, and failing to innovate. I think they are wrong. Firstly, look at the tablet market – Microsoft launched its software for modern Tablet PCs in 2001, with a host of manufacturers launching products that never caught on for almost 10 years before the iPad arrived and trounced the lot of them. Or what about MP3 players? Archos, Diamond and Sony were there first, but the iPod was the breakthrough product.

Secondly, Apple isn't really a device manufacturer any more: it's a flawless supply chain for content. It controls the whole experience, from the software that lets you easily consume data from its app store to the point-of-sale experience in acquiring a piece of their beautiful industrial design. As a rule, Apple does less than the competition, but does it better.

In contrast, I ordered my Pebble in June 2012, with a promise that I'd receive it in September. After multiple delays and emailed apologies, it finally arrived in February 2013. The watch itself looks like a prototype, all plastic with a dodgy backlight and easily-scratched screen. There are still no apps for it, but I managed to download extra watch faces by visiting a few websites run by enthusiasts, then braving an arduous process of uploading and running multiple apps on my phone to make them work. The battery lasts four days between charges, so I normally end up walking around with a blank watch on my wrist before giving up completely.

Don't get me wrong – the Pebble is charming, in a geeky way. But it has not stolen a march on companies like Apple. There are only 300,000 Pebble watches in circulation. Compare that to Apple, which sold 9 million iPhones in one weekend last September.